Enzon Pharmaceuticals Inc (ENZN)’s Shares Rally After Special Cash Dividend Announcement

How are hedge funds trading Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN)?

At the end of the first quarter, a total of eight of the hedge funds tracked by Insider Monkey were bullish in this stock, a drop of 11% from the end of the fourth quarter. With hedge funds’ capital changing hands, there exists a select group of notable hedge fund managers who were boosting their stakes meaningfully.

When looking at the hedgies followed by Insider Monkey, Carl Icahn’s Icahn Capital LP had the most valuable position in Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN), worth close to $6.3 million, consisting of 5.90 million shares, and corresponding to less than 0.1% of its total 13F portfolio. Coming in second is Renaissance Technologies, managed by Jim Simons, which held a $2.3 million position with ownership of 2.19 million shares; the fund has less than 0.1% of its 13F portfolio invested in the stock. Other members of the smart money that held long positions include Jeffrey Bronchick’s Cove Street Capital, Israel Englander’s Millennium Management, and Peter Algert and Kevin Coldiron’s Algert Coldiron Investors.

With the involvement of investors like Carl Icahn and steady growth in the price of shares, we consider Enzon Pharmaceuticals a buy at this price.

Disclosure: None